Why Nanobiotix (NBTX) Stock Is Plunging Thursday
Portfolio Pulse from Henry Khederian
Nanobiotix SA - ADR (NASDAQ:NBTX) shares dropped by 16.4% after the company priced its global follow-on offering. The offering includes 3,106,907 ADSs in the U.S. at $5.36 per ADS and 2,492,223 Ordinary Shares in Europe at €5.07 per share. Johnson & Johnson Innovation's JJDC is obligated to subscribe for $25.0 million in Ordinary Shares through a Concurrent Private Placement. The total expected proceeds are approximately $55 million (€51.5 million), before deductions.
November 02, 2023 | 3:06 pm
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Nanobiotix's stock price dropped significantly after the company priced its global follow-on offering. The expected proceeds from the offering are approximately $55 million.
The drop in Nanobiotix's stock price is directly related to the pricing of its global follow-on offering. The offering was priced at a discount to the recent trading session average, which likely contributed to the drop in the stock price. The expected proceeds from the offering, however, could provide the company with additional capital for its operations.
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